Fallen on hard times

Article Abstract:

UK insurance brokers face difficult conditions due to weaker underlying insurance rates. This leads to pressure for consolidation, and Lowndes Lambert and Fenchurch are discussing a possible merger. There has also been speculation that Sedgwick and Willis Corroon are to merge though some analysts see overlap of activities between the two companies as likely to lead to a loss of clients if they merge due to clients finding themselves housed with competitors. Share prices are not likely to benefit from bids in this sector and deals are likely to involve share exchange.

Insurance Agencies and Brokerages, Insurance agents, brokers, & service, Insurance Agents & Brokers, United Kingdom, Insurance industry, Acquisitions and mergers, Insurance brokers

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Two's a crowd

Article Abstract:

Christies and Sotheby's are competing to auction major collections. Christies has seen a 14% rise in revenue but a 1% rise in pre-tax profit using a lie-for-like measurement system. The company appears to have increased its share of the market through pressure on profit. Christies has just over 50% of the market, while Sotheby's has also seen a rise in revenues and profit. Christies aims to introduce a new commission scheme in order to stem the erosion of profit margins.

Art Dealers, Auctioneers, Art Dealers, Management, Christie's International PLC, Auctioneers

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City club loses elite status

Article Abstract:

UK moneybrokers such as Cater Allen will lose privileges when the moneybroking market is liberalized by the Bank of England from Jan 2 1996. There have been only eight companies with a moneybroking licenses from the London Stock Exchange. Some 43% of Cater Allen's pre-tax profit came from Sheppards, its moneybroker, in 1994 to 1995, while moneybroking accounted for 15% of Gerrard and National's profit before exceptional items in 1995.

Domestic Financial Transactions, Laws, regulations and rules, Financial services, Deregulation, Money market, Money markets

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